eeyore
Member of DD Central
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Post by eeyore on Sept 7, 2021 12:25:22 GMT
New 36-month commercial term loan for Northampton L*** I*** (PLL?) has been announced.
Total loan: £312,000 LTV: 65% Tranche A: £240k @ 6.67% gross Tranche B: £72k @ 8.49% gross (Cap £1k)
The security is a steel-framed industrial/warehouse building tenanted by a company owned by the borrowers; the company, which manufactures kitchen furniture & joinery, is expanding and requires larger premises. The exit strategy is to refinance the loan with a long-term mortage lender.
See the full loan request and valuation report for details which are available on the website.
Allocation of all TrancheA funds to Always-On lenders has already taken place (Tuesday 7-Sep). Tranche B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 8-Sep and allocation will take place on Thursday 9-Sep.
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eeyore
Member of DD Central
Posts: 739
Likes: 729
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Post by eeyore on Sept 16, 2021 16:43:31 GMT
At the borrower's request this loan has been cancelled before draw-down and funds have been returned by Proplend to lenders.
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